Common Contracts
1 similar null contracts
Internal Revenue Service, Treasury § 1.1361–0August 28th, 2014
Example 14. On October 1, 1971, A, an au- thor, and Corporation M, a publisher, exe- cuted an agreement under which A granted to M the exclusive right to print, publish and sell a book he had written. The agreement provides that M will pay to A specified royal- ties based on the actual cash received from the sale of the published work, render semi- annual statements of the sales, and at the time of rendering each statement make set- tlement for the amount due. On the same day, another agreement was signed by A and M, mutually agreeing that, in consideration of, and notwithstanding, any contrary provi- sions contained in the first contract, M shall not pay A more than $100x in any one cal- endar year. Under this supplemental con- tract, sums in excess of $100x accruing in any one calendar year are to be carried over by M into succeeding years. For the calendar year 1971, royalties payable to A under the basic agreement amount to $100x and this sum is paid to A. For the calendar year 197
